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SERVICE STREAM LIMITED — Capital/Financing Update 2014
Apr 27, 2014
65865_rns_2014-04-27_005baa6e-d32b-463e-b67a-0f23ea5814fd.pdf
Capital/Financing Update
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28 April 2014
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ASX & Media Release
Service Stream – Notice of Shortfall from Rights Issue
Service Stream Limited confirms that its recent Rights Offer closed on 22 April 2014.
The Board is delighted to announce that the Offer received strong support with valid acceptances received for 49,076,251 shares (a take-up of 82.6%), raising a total of $8,833,725.
In addition, the Company received ‘over subscription’ requests for 36,149,011 shares (or $6,506,822) which was well in excess of the shortfall shares available.
In allocating the shortfall shares, the Company considered the best approach to maximise participation in the offer, with a particular view to smaller shareholders who would generally be unable to participate in placements to sophisticated institutions and the like.
The Company sought to provide all shareholders who applied with their requested allocation of shortfall shares, subject to an overarching cap of 500% of their entitlement (which roughly equates to the size of their existing shareholding as at the record date), and a cap of 190,000 shares in total.
New holding statements as a result of the Rights Issue are expected to be despatched to shareholders on Friday 2 May 2014 which is also when the new shares are expected to trade.
For further details contact:
Service Stream Limited
Vicki Letcher, Company Secretary Tel: +61 3 9224 8617
About Service Stream Limited:
Service Stream is a public company listed on the Australian Securities Exchange (Code: SSM) with annual revenue in excess of $500 million. The Service Stream Group is a provider of essential network services to the telecommunications, energy and water industries. Service Stream operates out of more than 25 locations nationwide and maintains a workforce of more than 3,000 employees and contractors. For more information please visit www.servicestream.com.au.
SERVICE STREAM LIMITED ABN 46 072 369 870
HEAD OFFICE Level 4, 357 Collins Street, Melbourne Vic 3000 | Mailing Address: PO Box 14570 Melbourne VIC 8001 T +61 3 9677 8888 | F +61 3 9677 8877 | E [email protected] | www.servicestream.com.au